ASHEVILLE, NC / ACCESSWIRE / July 16, 2020 / What are the quirks of investing in precious metals when using a Self-Directed IRA? That was the question posed-and answered-at a recent post by American IRA. American IRA, a Self-Directed IRA administration firm based in Asheville, NC, often takes to its blog to create informative guides for investors who may not be familiar with the quirks of Self-Direction. But in the recent post, American IRA put the magnifying glass on one particular asset class for nontraditional retirement investors: precious metals.
As the post notes, one of the quirks of investing in precious metals is that investors will be using a storage option to keep the metals separate from their personal possessions. This is typical of regulations with retirement accounts. For example, a Self-Directed IRA should not be used to transact real estate with a “disqualified person”-a point frequently made at the American IRA blog. It’s similar with the possessions of a Self-Directed IRA, even if those possessions are precious metals.
Another quirk of holding precious metals within a Self-Directed IRA is that they’re valuated once per year, as the post notes, on December 31st. Investors who saw their precious metals move up at the beginning of the year and then decline at the end of the year may find themselves surprised at the valuation for the year thanks to this individual quirk.
The post goes on to detail other quirks of investing in precious metals with a Self-Directed IRA, also noting the other types of precious metals available for investment.
“Precious metals investing isn’t intuitive for every investor,” said Jim Hitt, CEO of American IRA. “They’re kind of a category all their own. That’s why we wanted to point out some of the individual quirks of investing in precious metals, as well as what investors can expect if they use a Self-Directed IRA.
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.
The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.
As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA.”
SOURCE: American IRA, LLC
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